Zuraida To Announce New Housing Rules and Policies Soon

Pavither 26 Jun 2018

 
Zuraida Kamaruddin, who has been appointed as Housing Minister one month ago, thanked private property developers for offering to help the new federal government solve Malaysia’s housing woes, especially the lack of affordable homes.

“They see my statements, my media interviews – they see the direction I am taking and are very fast to respond with their support. I am very surprised,” she told the Borneo Post.

“They come and tell me that they are not focused on profits – that it is time to give back to the country. That’s the kind of attitude they have,” she during a courtesy visit to Sarawak’s Chief Minister Datuk Patinggi Abang Johari Tun Openg.

This comes as the Housing Ministry is looking into a proposal for banks to consider all income sources of housing loan applicants, given the mortgage rejection rates for low- and middle-income families.

“Apart from the second and third incomes, I think banks also have to look into projected incomes,” she noted, adding that lenders could adopt a flexible stance when it comes to credit ratings for low-income households or the bottom 40 percent (B40).

“For working applicants, your salary increases from time to time. This has to be considered — in five years’ time, their income should be better than theirs now, so we have to give them that kind of assessment as to whether they can or cannot take up these loans.”

Queried on when the new housing loan guidelines will be introduced, Zuraida said she has not yet officially discussed these with the Ministry of Finance (MoF) and Bank Negara Malaysia (BNM).

“We are in the midst of scheduling a meeting with them — it should be very soon since this is a very important topic. I hope to do it within these next two weeks.”

Moreover, she said the federal government may potentially launch a rent-to-own scheme for the B40 group, who may opt to rent for the first two to three years before deciding to buy.

Zuraida said she will be able to announce more details once these the housing rules and policies are finalised and approved by the Cabinet, which is set to hold a meeting next month.
 

Image sourced from Sayang Sabah

 
This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email editorialteam@propertyguru.com.my
 

Those who want to learn more about the property market, read up on Property Market Insights.

POST COMMENT

You may also like these articles

PJ Mayor Approves Site Redevelopment Amidst Large Opposition

 Petaling Jaya City Council (MBPJ) Mayor Datuk Mohd Azizi Mohd Zain has approved the redevelopment of the former site of the iconic A&W restaurant in Lorong Sultan during the body’s monthly mee

Continue Reading30 Jan 2018

PPR Lembah Subang Residents Have Had No Lift Services For Up to 7 months

  The broken lifts at Block H, PPR Lembah Subang 1 in Petaling Jaya have become a burden to residents, who had to walk up a long flight of stairs just to get to their home.The last functioning lift a

Continue Reading6 Mar 2018

DBKL Halts Approval of Nonconforming Projects

  Kuala Lumpur City Hall (DBKL) has temporarily stopped the process of granting approval to all proposed property developments that do not comply with all existing rules, including those to be c

Continue Reading15 May 2018

Capital Appreciation and Positive Cashflow. If You are A Property Investor, These are Deals You Can’t Afford to Miss!

 If making passive income while waiting for the property to appreciate in value is your thing, then look no further than the exclusive GuruDeals brought to you by PropertyGuru in partnership with

Continue Reading1 Jun 2018

A Change In Gov’t Gives Family A Chance to Get A PPR Flat

 Homeownership among the lower-income group is more challenging given their socio-economic conditions. However, with the right knowledge and financial understanding, securing a roof over one's h

Continue Reading12 Jun 2018

Minimum Size For PPR Flats To Increase To 900sq ft From 600sq ft

 Malaysia’s poor can look forward to bigger homes as the National Community Policy, which will be launched by the Housing and Local Government Ministry in August, mulls proposing larger living quar

Continue Reading21 Jun 2018

Banks Exercise Considerable Flexibility In Granting Housing Loans, With Three In Four Loans Approved

  In slamming reports that banks are too strict with housing loans, Bank Negara Malaysia clarified that financial institutions exercise “considerable flexibility” in approving mortgages.It explai

Continue Reading21 Jun 2018